Coatue Management, a $70 billion investment firm led by Philippe Laffont, is set to launch a new fund targeting both public and private AI and technology companies. The fund will employ a "bullish cross-market" strategy, investing in publicly traded firms and late-stage startups, while retaining the flexibility to adjust positions and hold cash. This marks a shift from Coatue's traditional "long-only" approach, as more startups delay public listings. The new fund will allocate around 20% of its assets to private companies and is expected to launch by midyear. Coatue is closing its existing $8 billion long-only fund to new investments, directing interested parties to the new initiative. A company spokesperson declined to comment on the development.